CME Group Inc. (CME) Earnings
CME Group Inc. is expected to report next earnings on July 22, 2026 (in NaN days), with a consensus EPS estimate of $3.01. CME has beaten EPS estimates in 8 of its last 12 reported quarters (average surprise +1.2% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 22, 2026 | $3.34 | $3.36 | +0.6% | $1.9B | +0.3% |
| Feb 4, 2026 | $2.75 | $2.77 | +0.7% | $1.6B | +0.1% |
| Oct 22, 2025 | $2.63 | $2.68 | +1.9% | $1.5B | +0.5% |
| Jul 23, 2025 | $2.91 | $2.96 | +1.7% | $1.7B | +0.4% |
| Apr 23, 2025 | $2.80 | $2.80 | +0.0% | $1.6B | -0.2% |
| Feb 12, 2025 | $2.46 | $2.52 | +2.4% | $1.5B | +0.7% |
| Oct 23, 2024 | $2.66 | $2.68 | +0.8% | $1.6B | -0.3% |
| Jul 24, 2024 | $2.53 | $2.56 | +1.2% | $1.5B | -0.1% |
| Feb 14, 2024 | $2.28 | $2.37 | +3.9% | $1.4B | +0.8% |
| Oct 25, 2023 | $2.22 | $2.25 | +1.4% | $1.3B | -0.3% |
| Jul 26, 2023 | $2.20 | $2.30 | +4.5% | $1.4B | +1.5% |
| Feb 8, 2023 | $1.88 | $1.92 | +2.1% | $1.2B | -0.3% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 22, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• CME Group achieved record-breaking start to 2026 with highest first quarter average daily volume. • Simultaneously record volume across all 6 asset classes. • International average daily volume reached record 11.4 million contracts. • Delivered record levels of capital efficiency, saving customers over $85 billion in margin per day. • Open interest ended quarter up 11% y-o-y and 19% since start of 2026. • Received regulatory approval to expand DTCC cross-margining agreement to end user clients. • 24/7 crypto trading scheduled to go live on May 29. • Filing to change Micro Equity Index options to be financially settled. • New Dallas environment on track to open summer, with agricultural products migrating to cloud by end of year.
Guidance
• Confident in continuing to deliver value to clients and shareholders with strong performance and ongoing investments in technology and product innovation. • No specific downward/upward revision mentioned, just confident in future growth.
Segment performance
First quarter average daily volume was 36.2 million contracts, highest in history, up 22% y-o-y. Record volume across all 6 asset classes. Commodity sector volume grew 38%, financial products volume grew 18%. International average daily volume reached 11.4 million contracts, up 30% in 2025. Clearing and transaction fee revenue grew 15% to $205 million. Market data revenue up 15% to $224 million. Record revenue of $1.9 billion, up 14% y-o-y. Adjusted expenses $512 million, adjusted operating income $1.4 billion, adjusted net income $1.2 billion, adjusted diluted earnings per share $3.36, all record highs.
Analyst Q&A
Q: Terry, you mentioned regulatory approval to expand DTCC cross-margining agreement to end user clients and intersection with tokenization of U.S. treasuries as collateral.
A: Suzanne Sprague and Terrence Duffy discussed tokenization efforts, looking at ways to enhance collateral mobility and capital efficiencies.
Q: Patrick Moley asked about perpetual futures and retail engagement.
A: Terrence Duffy and Derek Sammann discussed that perpetuals are against U.S. law, importance of convergence for hedgers, and true volumes in perpetuals.
Q: Daniel Fannon asked about Micro Equity Index option change to be financially settled.
A: Terrence Duffy and Tim McCourt explained why now, client focus on micro contracts being retail-focused and preference for financially settled mechanisms.
Q: Kenneth Worthington asked about WTI evolution and Venezuela's impact.
A: Derek Sammann and Terrence Duffy discussed WTI as global benchmark, growth in global adoption, and uncertainty around Venezuela's impact.
Q: Benjamin Budish asked about market data and retail team.
A: Julie Winkler and Lynne Fitzpatrick talked about market data revenue growth, sim participation, subscriber growth, and prediction market volumes.
Q: Alexander Blostein asked about energy markets health.
A: Derek Sammann and Terrence Duffy discussed broad-based activity, open interest resilience, and options business helping manage risk.
Q: Michael Cyprys asked about partnership with Google, tokenizing cash, and cloud migration.
A: Suzanne Sprague, Lynne Fitzpatrick, and Terrence Duffy discussed tokenizing cash timeline, stablecoin progress, and cloud migration benefits.
Q: William Katz asked about capital allocation and adjusted expenses.
A: Terrence Duffy and Lynne Fitzpatrick talked about capital allocation, dividend, share repurchase, and adjusted expenses growth.
Q: Craig Siegenthaler asked about prediction markets FCM JV with FanDuel.
A: Terrence Duffy and Tim McCourt explained partnership details, no change in relationship.
Q: Brian Bedell asked about prediction markets KPI contracts and collateral balances.
A: Tim McCourt and Lynne Fitzpatrick discussed regulatory aspects of KPI contracts and April collateral balances.
Q: Will Qi asked about market data license changes.
A: Julie Winkler talked about data license changes and market data revenue growth.
Q: Simon Clinch asked about BrokerTec Chicago.
A: Michael Dennis discussed BrokerTec Chicago's progress.
Q: Christopher Allen asked about buyback philosophy.
A: Lynne Fitzpatrick talked about using OSTTRA proceeds for repurchases.
Q: Chris Allen asked about buyback philosophy.
A: Lynne Fitzpatrick explained use of OSTTRA proceeds for repurchases.
Q: Michael Cyprys asked about expanded treasury cross-margining.
A: Suzanne Sprague and Lynne Fitzpatrick discussed savings potential and ramp-up of cross-margining.